Key Takeaways:
Taiwan's three largest power management IC suppliers are raising prices for the first time in two years as AI infrastructure demand strains mature-node capacity.
Taiwan's three largest power management IC suppliers are raising prices for the first time in two years, as AI infrastructure demand tightens 8-inch wafer capacity at foundries including TSMC and Samsung.
"Multiple peers have successively issued price hike notices since early May, and we are now in active price negotiations with customers," Wu Jinchuan, chairman of ZhiXin (also known as Global Mixed-Mode Technology), said.
ZhiXin posted May revenue of NT$749 million ($23.2 million), flat from April but down 3.28% year over year. Silergy, the largest of the three, reported May revenue of NT$1.91 billion, up 31.59% from a year earlier, while Mouda's NT$686 million marked a 15.42% annual gain and a 48-month high. All three companies are benefiting from a structural shift: 8-inch wafer foundry capacity, which had been loose for two years amid consumer electronics inventory corrections, is now tightening as AI server, data center, DDR5 memory and automotive demand converge.
The price hikes signal that Taiwan's analog IC supply chain is transitioning from cyclical recovery to structural pricing power. ZhiXin's DDR5 and LPDDR5 PMIC portfolio positions it for server memory growth, while Silergy's AI ASIC Vcore products have entered customer sampling. Mouda benefits from a dual tailwind of PMIC repricing and fan motor driver IC demand tied to AI PC and server cooling.
Supply Tightening Reshapes Pricing Power
The 8-inch wafer market, which produces mature-node chips used in power management, display drivers and power devices, had suffered two years of underutilization as smartphone and PC demand slumped. TSMC and Samsung have both adjusted their 8-inch capacity allocations, limiting supply growth even as demand recovers. Industry analysts expect the capacity crunch to persist through the second half of 2026, giving PMIC suppliers sustained leverage in price negotiations.
Silergy, which posted the strongest year-over-year growth among the three, is expanding beyond its core PMIC business into data center and automotive power management. Its AI ASIC Vcore products — chips that regulate voltage for custom AI accelerators — have been delivered to customers for validation, with mass production targeted for 2027. If successful, the product line could open a new revenue stream tied directly to AI infrastructure spending.
Mouda's Dual Tailwind
Mouda's May revenue of NT$686 million, the highest in four years, reflects two converging trends. Beyond PMIC price recovery, the company's fan motor driver ICs are seeing rising demand as AI PCs, gaming laptops and servers require more sophisticated thermal management. Higher power consumption from AI workloads drives the need for more fans and more precise speed control, directly benefiting Mouda's product lineup.
For investors, the PMIC price cycle offers a differentiated way to play AI infrastructure beyond GPU makers and foundries. ZhiXin trades on the Taiwan Stock Exchange under ticker 8081, Silergy as 6415 and Mouda as 6138. The three companies collectively generated more than NT$36 billion in revenue over the first five months of 2026, with margins expected to expand as price increases take effect in the second half. The key risk: if AI server deployment slows or consumer demand weakens again, the pricing window could close as quickly as it opened.
This article is for informational purposes only and does not constitute investment advice.
